Thursday, April 9, 2009

Inequality geniuses….

“The problem is never with the economic system or the ideology. The problem is always with human beings who get intoxicated with wealth and power and corrupt the system whatever it is. Our present global economic crisis is the result of human foibles, cronyism, power mongering, greed, selfishness, corruption and bureaucracy.”

Actually it is never serious or insensitive “human beings” who become bombard in civil society for forever.

Interestingly people argue in the present world financial crisis like what Mr Deepak says “To create the new paradigm we do not need to resuscitate a dying patient, we need to let the patient die and reincarnate ourselves as a new humanity.”.

This is what some liberals argue if a particular company failed by its own wrong decision making let them fail so that they will be more cautious in future with their wealth management. In fact this will pave a way to other companies also. The Economist says perhaps more aptly that “the rich created a new form of heads-I-win-tails-you-lose capitalism. Traders and fund managers got huge rewards for speculating with other people’s money, but when they failed the parent company, the client and ultimately the taxpayer had to pay the bill. Monetary policy contributed to this asymmetry of risk: when markets faltered central banks usually rescued them by cutting interest rates.”